If anyone has gone through the exercise of talking to these folks and can recommend a few I would greatly appreciate it!

Again, we are fully in agreement this entire time.Sorry to David for getting a bit off topic, however, I do believe this exercise did yield benefits to readers.

If they exercise the option to buy, the option fee goes towards the downpayment as well.Questions:1.

An amount equal to $___________ of each payment for each month in which rent was paid, will be credited to the Tenant/Buyer and applied to the purchase price of the property in the event that the Tenant/Buyer exercises its option hereunder and legal title transfers.Exclusive occupancy and possession of the property transfer to the Tenant/Buyer on the date under "2" above and remain with the buyer during the term of this agreement and any extensions thereof, unless Tenant/Buyer defaults on any payment required by this contract.

I agree that its expensive but have not found a better source to do do real life exercises.

Will be a good exercise for you though if you get more concrete #s from them. 

After doing that little exercise, honestly assess how long you plan on keeping that property.  5 years?  

I have yet to hear of a bank exercising the DOS. 

Of course, the numbers have to work, and caution must be exercised to not get into financial trouble.

If you do exercise it then you would close and take title to the property at that point.